Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Down 11.2% – What’s Next?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) shares were down 11.2% during mid-day trading on Monday . The company traded as low as $17.50 and last traded at $17.7050. 71,116 shares were traded during trading, a decline of 85% from the average session volume of 489,731 shares. The stock had previously closed at $19.93.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Needham & Company LLC began coverage on Horizon Quantum Computing Pte. in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $20.00 price objective on the stock. Weiss Ratings raised shares of Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Craig Hallum started coverage on shares of Horizon Quantum Computing Pte. in a report on Monday, August 17th. They set a “buy” rating and a $21.00 price target for the company. Finally, Wall Street Zen upgraded shares of Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research report on Saturday. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.50.

Horizon Quantum Computing Pte. Stock Down 7.3%

The stock has a fifty day moving average price of $19.93. The firm has a market cap of $952.94 million, a PE ratio of -40.36 and a beta of 0.31.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last announced its quarterly earnings data on Tuesday, August 4th. The quantum computing company reported ($0.13) earnings per share (EPS) for the quarter.

Horizon Quantum Computing Pte. Company Profile

Horizon Quantum Holdings Ltd. is a quantum software infrastructure company focused on tools and systems that help developers build and deploy quantum applications. The company emphasizes software, algorithms, and workflow infrastructure intended to support practical quantum and hybrid quantum-classical use cases.

Horizon Quantum became a public company through its business combination with dMY Squared Technology Group, Inc (DMYY), which was formed to take a private company public through a business combination.